Weekly Market Recap | June 22 – June 28

Analyst Highlights

• IPO window open, but selective: Six IPOs priced this week, with most deals trading near offer price while DSC Holdings’ sharp decline showed investors remain cautious.
• AI pressure hit equities: Nasdaq fell 3.32% for the week as chip weakness, AI valuation concerns, and speculative unwind pressured major growth names.
• Rates stayed central: Softer PCE inflation reduced Fed rate-hike bets, while Japan’s weak 20-year bond auction and Tokyo inflation kept global bond markets in focus.
• Crypto weakness deepened: Bitcoin fell 6.91% and Ethereum dropped 9.04%, while Bitcoin ETFs headed for their worst month since launch with more than $4 billion in outflows.
• Energy risk eased but stayed fragile: WTI and Brent both fell more than 7% for the week, even as Hormuz fees, US-Iran tensions, and Gulf diplomacy kept markets alert.
• AI capex race accelerated: Meta and Microsoft’s data-center commitments, Qualcomm’s AI chip push, and Samsung/SK’s Korea investment plan showed infrastructure remains the core AI battleground.

IPO’s in the week

• Sinda (SIND, NYSE) — priced its IPO on June 26, 2026, offering 17,750,000 shares at $12.00 per share. Shares were flat after pricing, trading at 00%.
• Alpex Acquisition (ALPXU, Nasdaq) — priced its IPO on June 25, 2026, offering 10,000,000 shares at $10.00 per share/unit. Shares traded slightly lower after pricing, falling 10%.
• Cartesian Growth IV (CGCFU, Nasdaq) — priced its IPO on June 25, 2026, offering 25,000,000 shares at $10.00 per share/unit. Shares traded slightly lower after pricing, falling 20%.
• DPC Holdings (DPC, NYSE) — priced its IPO on June 25, 2026, offering 23,333,333 shares at $33.00 per share. Shares traded slightly higher after pricing, rising 58%.
• DSC Holdings (DSC, Nasdaq) — priced its IPO on June 25, 2026, offering 3,000,000 shares at $17.00 per share. Shares traded sharply lower after pricing, falling 98%.
• Futurewave Acquisition (FWACU, Nasdaq) — priced its IPO on June 25, 2026, offering 7,500,000 shares at $10.00 per share/unit. Shares were flat after pricing, trading at 00%.

Additional IPO Activity: IPO activity was steady this week, with six offerings priced across the visible calendar. The group showed a mixed reception: some deals traded near their offer price, while DSC Holdings saw sharper weakness after pricing. SPAC and acquisition vehicle activity remained active around the standard $10.00 per share/unit level. Overall, the week suggests that the IPO window remains open, but investor demand is still selective.

Markets Weekly

1. S&P 500 closed at 7,354.02, falling 118.77 points, or 1.59%, for the week.
2. Russell 1000 closed at 4,013.81, falling 51.84 points, or 1.28%, for the week.
3. Russell 2000 closed at 3,010.08, rising 5.68 points, or 0.19%, for the week.
4. Russell 3000 closed at 4,198.43, falling 51.18 points, or 1.20%, for the week.
5. CBOE (VIX) closed at 18.41, rising 1.13 points, or 6.54%, for the week.
6. Dow Jones closed at 51,876.11, rising 163.40 points, or 0.32%, for the week.
7. NASDAQ closed at 25,297.62, falling 868.98 points, or 3.32%, for the week.
8. Bitcoin closed at 59,532.34, falling 4,419.77 points, or 6.91%, for the week.
9. Ethereum closed at 1,570.36, falling 156.15 points, or 9.04%, for the week.
10. Solana closed at 71.31, falling 0.60 points, or 0.83%, for the week.
11. XRP closed at 1.0476, falling 0.0810 points, or 7.18%, for the week.
12. Gold closed at 4,078.70, falling 103.20 points, or 2.47%, for the week.
13. Silver closed at 59.217, falling 6.310 points, or 9.63%, for the week.
14. WTI Crude closed at 69.23, falling 5.59 points, or 7.47%, for the week.
15. Brent Crude closed at 71.99, falling 5.91 points, or 7.59%, for the week.

• Japan’s 20-year bond auction saw the weakest demand since 2025, as inflation concerns and fiscal worries pressured government debt.
• Bond traders trimmed Fed rate-hike bets after softer PCE inflation, though oil-price swings kept Treasury yields mixed.
• Wall Street turned more bullish on the dollar as a hawkish Fed, stronger US growth, and AI investment revived demand.
• Tokyo inflation picked up for the first time in eight months, keeping the BOJ on track for further rate hikes.
• US stocks fell for the week as chip weakness and AI valuation concerns pushed major indexes lower.
• Euro-zone inflation likely slowed for the first time since the Iran war began, though price growth remains above target.
• The AI stock rout exposed speculative market excess, as leveraged products and retail-driven trades amplified losses across chip shares.
• Bitcoin ETFs headed for their worst month since launch, with investors pulling more than $4 billion from US-listed funds.

Politics Weekly

• US-Iran ceasefire came under pressure as both sides traded fresh military attacks, raising concerns over renewed regional escalation.
• Trump’s proposed Iran sanctions rollback could reshape decades of US policy, easing oil flows while creating compliance uncertainty.
• Oman warned Hormuz shipping may face new fees, raising concerns over maritime costs, regional coordination, and post-war trade rules.
• Rubio met Gulf leaders to reassure allies as US-Iran talks faced early disputes over funds, inspections, and regional security.
• Ukraine targeted Russian refineries with fresh drone strikes, intensifying pressure on Moscow’s energy infrastructure as cross-border attacks continue.
• China and Russia conducted a joint air patrol across regional seas, signaling closer military coordination after Putin’s May visit to China.
• European leaders pledged to shoulder more NATO defense responsibility as Trump’s pullback pressures allies to strengthen Europe’s security role.
• India and China resumed border talks, seeking to ease Himalayan tensions and prevent territorial disputes from blocking wider bilateral ties.

Technology Advancements in the week

• OpenAI limited GPT-5.6 access to approved partners after US government pressure, highlighting growing oversight of advanced AI model releases.
• Anthropic’s Mythos 5 received US clearance for wider trusted-partner access, while restrictions remain on more sensitive AI systems.
• Meta and Microsoft led an $850 billion surge in future data center leases, underscoring AI’s growing infrastructure demands.
• Qualcomm said its data-center chips could generate billions in 2027, as Meta adopts its processors for AI infrastructure.
• Samsung and SK planned $880 billion in AI-related investments, aiming to expand Korea’s chip, memory, and data-center leadership.
• Google will offer SandboxAQ’s specialist AI models through its cloud marketplace, expanding access for drug discovery, materials science, and semiconductors.

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